MICA Crypto Alliance's report provides projections on increasing use of renewable energy in Bitcoin mining by 2030, examining reasons and current trends.
Renewable Energy in Bitcoin Mining
According to the MICA Crypto Alliance report, by 2030, up to 70% of energy used in Bitcoin mining will come from renewable sources. Currently, over 41% of mining energy comes from renewables, more than double as compared to 2011.
Factors Influencing Projections
MICA considers several factors, such as government policies, global energy trends, and economic incentives, which will influence the renewable energy share in Bitcoin mining. By 2030, energy consumption is expected to peak, but increased energy efficiency will reduce the environmental footprint.
Current Energy Usage Trends
The use of coal for Bitcoin mining decreased from 63% to 20% between 2011 and 2024, highlighting a shift towards cleaner energy sources, including solar and wind energy, which account for 6.07% and 10.86%, respectively. Meanwhile, coal usage in other industries continues to rise.
The growth of renewable energy in Bitcoin mining is part of a global trend towards decarbonization. These changes are driven by both internal industry economic factors and external ecological and political changes.
